STANBIC BANK LAUNCHES WEZESHA PROPOSITION

Omari Mtiga, Head of Personal and Private Banking Stanbic Bank, speaks at the launch of the Wezesha proposition that empowers customers to build their legacies.

Emmanuel Mahondaga, Head of Personal Banking & Retail Sales at Stanbic Bank Tanzania, speaks at the launch of the Wezesha proposition that empowers customers to build their legacies.

Dar es Salaam, 26th October: In support of Tanzania’s rapid ascent to becoming a thriving middle-income nation, Stanbic Bank has announced the launch of its groundbreaking proposition called Wezesha. The bank reaffirmed its commitment to the dreams and ambitions of Tanzania's emerging workforce, positioning itself as a steadfast partner and supporter of individuals on the journey towards a financially prosperous nation, at an event attended by Human Resources practitioners gathered at the Serena Hotel, in Dar es Salaam.

The Wezesha proposition, represents a beacon of hope and empowerment for Tanzania’s workforce. Speaking at the launch, Omar Mtiga, Head of Personal and Private Banking emphasised the bank’s dedication to enabling and empowering the nation’s ambitious individuals to reach unparalleled heights, saying that, “The Wezesha proposition targets salaried individuals and is meticulously designed to help them manifest their dreams into tangible realities.”

The key features of the Wezesha proposition include:

• Financial Security: Wezesha Account holders enjoy free access to funeral cover for themselves and their families, providing unparalleled peace of mind during challenging times. It also offers employees personalized insurance cover plans, health and business insurance on request, ensuring convenience for the account holder.
• Financial Freedom: With the ability to withdraw up to 20 million Tanzanian shillings over the counter, coupled with free account transfers and access to government payments, account holders experience a level of financial freedom like never before.
• Digital Convenience: The Wezesha Account offers the convenience of a Visa debit card privileged with various embedded benefits recognized worldwide, available instantly upon request, as well as the flexibility of managing finances through the Stanbic Bank digital App, WhatsApp banking, and Internet Banking.
• Expert Guidance: Account holders gain access to premium services such as insurance premium financing and free flexible investment solutions. Furthermore, the Wezesha Account offers expertise from the Contrasave Account and Unit Trust of Tanzania (UTT), empowering individuals to make informed financial decisions.
• Educational Empowerment: Stanbic Bank’s Financial Fitness Academy opens doors to comprehensive financial education, ensuring account holders are equipped with the knowledge to navigate the complexities of the financial world.
• Access to Funds: The preposition offers Salaried employees the convenience on accessing funds and getting financial support through loan facilities which are fast and affordable with preferred loan amount to the employees to ensure they meets their needs.
• Beyond banking: also WEZESHA Account offers the employees banking services from the workplace or office premise visit up on request to provide the banking services through our professional Business Bankers.
• Digital access to Funds (Short term & Long term): The preposition offers salaried employees the convenience on accessing funds on Stanbic Digital channels, where they can easily access salary advance to the tune of TZS 5million as well as get loan facilities though Digital to ensure they meets their needs.
• Personalized: Through the bank’s contact centre, the WEZESHA Account offers fast and personalized services which are based on the life style of the account holder.
• Access on various Offers/Discounts: The WEZESHA account provides employees with the access to different offers that are provided by the bank from time to time.

With the benefits, the Wezesha proposition extends support beyond just mere banking services. Stanbic recognizes the significance of personal milestones, family well-being, and the aspirations of Tanzanians to maintain specific lifestyles. The proposition is not merely a financial tool; it’s an opportunity for individuals to continue thriving, achieve their goals, and contribute significantly to the progress of the nation.

According to The Africa Wealth Report 2022, Tanzania has a total private wealth of USD 56 billion, and a wealth per capita of USD 940. The country has 2,400 High Networth Individuals, 80 multi-millionaires, 8 centi-millionaires, and 1 billionaire in USD.

Commenting on the new proposition, Emmanuel Mahodanga, Stanbic Bank Tanzania’s Head of Personal Banking & Retail Sales said, “We are introducing you to a new offer that shall ensure you maximise the value of your earnings to increase and grow your wealth as per your aspirations.”

As Stanbic Bank continues to pave the way for a brighter, more prosperous Tanzania, the Wezesha proposition stands as a testament to the bank’s unwavering commitment to supporting the dreams of the nation's youth. With Stanbic Bank as trusted financial partner, Tanzanians can embrace the future with confidence, knowing that their aspirations are not just encouraged; but enabled and empowered to thrive.

About Stanbic Bank Tanzania:

Stanbic Bank Tanzania Limited is a full service commercial bank which specialises in providing facilities and services to public and private sector corporations, diplomatic missions and international organisations. Stanbic Bank Tanzania is a member of the Standard Bank Group of South Africa and was established in May 1995 when the Standard Bank Group acquired the operations of Meridien Biao Bank Tanzania Limited.

For more information, contact:

Annette Nkini, Stanbic Bank Tanzania, Reputation, Brand Engagement & Communications Manager
Email: annette.nkini@stanbic.co.tz